Nifty August 2010 futures were at 5,521.35, at a discount of 9.30 points compared to the spot closing of 5,530.65. Nifty September 2010 futures were near spot price at 5,530.50 compared to the spot closing of 5,530.65.

The Asian markets eased today, witnessing a severe bout of sell off as the weak overnight US cues hurt the sentiments. Traders were seen selling in the wake of a very poor labor market data, which came in as a rude shock after a couple of decent reports in the middle of the week. It also underpinned that the US is in the middle of what could be called as a jobless recovery that the safe haven assets continued to gain, inflicting a heavy damage to the equities. US initial claims for unemployment benefits rose by 12,000 in the week ended Aug. 14, the Labor Department said. Claims totaled 500,000 in the week, the highest number since Nov. 14, 2009. Dow slumped around 200 points in intraday moves and closed down 144.33 points or 1.4 % to 10,271.21

The key benchmark indices edged lower, snapping two-day gains, as profit booking and weak global cues played spoilsport. European and Asian markets declined today weighed by poor US economic data, which reignited global economic worries. The BSE 30-share Sensex was down 53.12 points or 0.29%, off 62.32 points from the day's high and up 40.92 points from the day's low.

Just yesterday, the indices were racing ahead kicking away any concerns that came their way. Today is a different day; after touching 30-month highs, the Indian indices could see some pressure given the global cues this morning.

The Indian markets ended near 30-months high on Thursday. In the opening trades the upswing was led by the index heavyweight Reliance Industries, the momentum was then carried forward by the banking stocks.

We recommend a buy in the stock of KS Oils from a short-term perspective. It is evident from the charts that after encountering a key long-term resistance in the band between Rs 75 and Rs 77 in January 2010, it started declining. However, this intermediate-term down move was arrested at the stock's significant long-term support zone between Rs 50 and Rs 52 in late July. Subsequently the stock bounced up and has been on a short-term up-move. This trend reversal has been supported by positive divergence displayed in the daily moving average convergence divergence oscillator. On August 19, the stock advance 4 per cent crossing over its 21-day moving average. The volume on that session was good. The daily relative strength index has bounced up from 40 levels and is rising towards bullish zone. The daily MACD has signalled a buy. Our short-term outlook on the stock is positive. We anticipate the stock to rally until it hits our price target of Rs 57.5 or Rs 59 in the upcoming trading sessions. Short-term traders can buy the stock while maintaining stop-loss at Rs 53.

Weak set of economic data rattled US stocks for the entire day on Thursday, 19 August 2010. Stocks started and ended the day in the red. The day was heavy with economic reports and all checked in worse than expected thereby questioning the pace of global recovery for last year's recession.

Bullion metal prices ended mixed once again on Thursday, 19 August 2010 at Comex. Gold prices ended marginally higher while silver prices slipped. Gold prices rose as weak economic data increased the appeal of commodities as a hedge against inflation. On the other hand, silver dropped as dollar strengthened.